NBC Securities Inc. Grows Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

NBC Securities Inc. boosted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 113,014.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,918 shares of the financial services provider's stock after acquiring an additional 7,911 shares during the quarter. NBC Securities Inc.'s holdings in Pinnacle Financial Partners were worth $839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNFP. Kapitalo Investimentos Ltda purchased a new stake in Pinnacle Financial Partners during the fourth quarter worth approximately $78,000. Principal Securities Inc. increased its holdings in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 91 shares during the period. Values First Advisors Inc. grew its holdings in Pinnacle Financial Partners by 189.9% during the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after acquiring an additional 955 shares during the period. Blue Trust Inc. boosted its position in Pinnacle Financial Partners by 20.6% during the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock worth $181,000 after purchasing an additional 271 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at $200,000. Institutional investors and hedge funds own 87.40% of the company's stock.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ PNFP traded up $2.52 during midday trading on Friday, reaching $108.05. The company's stock had a trading volume of 296,252 shares, compared to its average volume of 503,150. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month high of $131.91. The firm has a 50 day moving average price of $101.61 and a 200-day moving average price of $111.27. The stock has a market capitalization of $8.38 billion, a P/E ratio of 18.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.82 by $0.08. The business had revenue of $475.37 million during the quarter, compared to the consensus estimate of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same quarter last year, the company earned $1.53 EPS. As a group, equities analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 2nd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.96 annualized dividend and a yield of 0.89%. Pinnacle Financial Partners's payout ratio is 15.53%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PNFP shares. Truist Financial started coverage on Pinnacle Financial Partners in a research note on Tuesday, May 13th. They issued a "buy" rating and a $123.00 target price for the company. Wells Fargo & Company cut their target price on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group started coverage on Pinnacle Financial Partners in a research report on Wednesday, May 21st. They set a "buy" rating and a $135.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Hovde Group raised Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 target price on the stock in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.27.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at $25,615,567.76. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Glenda Baskin Glover sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the sale, the director now owns 9,943 shares in the company, valued at $1,009,711.65. This represents a 23.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,041 shares of company stock worth $509,986 over the last three months. Company insiders own 1.46% of the company's stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.